分组1 - Airbnb reported quarterly earnings of $0.73 per share, exceeding the Zacks Consensus Estimate of $0.58 per share, but down from $0.76 per share a year ago, resulting in an earnings surprise of 25.86% [1] - The company generated revenues of $2.48 billion for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 2.47% and increasing from $2.22 billion year-over-year [2] - Over the last four quarters, Airbnb has surpassed consensus EPS estimates two times and revenue estimates three times [2] 分组2 - The stock has gained approximately 6.9% since the beginning of the year, outperforming the S&P 500's gain of 2.9% [3] - The current consensus EPS estimate for the upcoming quarter is $0.24 on revenues of $2.29 billion, and for the current fiscal year, it is $4.27 on revenues of $12.16 billion [7] - The Leisure and Recreation Services industry, to which Airbnb belongs, is currently ranked in the top 17% of over 250 Zacks industries, indicating a favorable outlook [8]

Core Insights - Airbnb's fourth-quarter financial report shows strong performance with revenue of $2.2 billion, a 13% increase year-over-year, and earnings per share of $0.73, exceeding expectations [2][3][7] - The company reported a significant increase in free cash flow, reaching $458 million, up 896% from the previous year [2][6] - Growth in nights and experiences booked was robust, with a 12% increase in Q4 and a 10% increase for the year, driven by strong demand in Asia and Latin America [3][4] Financial Performance - Revenue for Q4 2023 was $2.2 billion, while Q4 2024 is projected at $2.48 billion, marking a 13% increase [2] - Earnings per share improved from -$0.55 to $0.73, indicating a positive turnaround [2] - Free cash flow surged from $46 million to $458 million, reflecting a nearly 900% increase [2][6] Growth Drivers - The increase in nights and experiences booked was primarily fueled by cross-border travel, particularly in the Asia Pacific region, benefiting from the post-pandemic recovery in outbound travel from China [4] - In North America, growth was in the mid-single digits, supported by price appreciation and a shift in the mix towards short-term stays as more Americans returned to the workplace [5] Market Reaction - Following the earnings release, Airbnb's stock rose by 12% in after-market trading, indicating positive investor sentiment [7] Future Outlook - Airbnb plans to invest $200 million to $250 million starting in May to expand into new products such as tours and workshops, with expectations of generating an additional $1 billion in annual revenue [8] - The company anticipates stable growth in nights and experiences booked, with revenue growth projected between 10% and 12% for the current quarter, despite potential challenges from currency fluctuations [9]

Core Insights - Airbnb shares surged 15% in extended trading after reporting fourth-quarter earnings and revenue that exceeded analysts' expectations [1] - The company reported a revenue increase of 12% year-over-year, reaching $2.48 billion, and a net income of $461 million, compared to a loss of $349 million in the same period last year [1][7] - For the first quarter of 2024, Airbnb anticipates revenue between $2.23 billion and $2.27 billion, slightly below analysts' expectations of $2.3 billion [2] Financial Performance - Adjusted profit for the fourth quarter was $765 million, a 4% increase year-over-year, surpassing analysts' expectations of $653.5 million [2] - The company reported 111 million nights and experiences booked, a 12% increase from the previous year, exceeding the expected 108.7 million [4] - Gross booking value for the fourth quarter totaled $17.6 billion, above the $17.2 billion expected by analysts [4] Strategic Developments - The company has rebuilt its technology stack and introduced new product updates, which are contributing to higher conversion rates [3] - Airbnb is executing a multi-year strategy aimed at enhancing core services, accelerating global market growth, and launching new offerings [4] - The company plans to unveil new offerings in May, although specific details were not disclosed [3] Social Impact - Airbnb.org has provided housing for over 19,000 individuals and 2,300 pets affected by recent wildfires in Los Angeles, pledging 100,000 free nights and receiving $27 million in donations [5] Market Position - Airbnb has over 5 million hosts and 8 million active listings globally, with average daily rates increasing by 1% year-over-year to $158 in the fourth quarter [6] - Prior to the earnings report, Airbnb shares had risen about 7% for the year, outperforming the Nasdaq, which gained over 3% [6]

Financial Performance - Gross Booking Value (GBV) and Adjusted EBITDA are influenced by seasonal trends, with the highest GBV typically occurring in the first and second quarters, while revenue peaks in the third quarter due to increased check-ins [54]. - For the year ended December 31, 2024, 58% of the company's revenue was generated from listings outside of the United States, indicating a strong international presence [69]. - The company tracks operational metrics such as Nights and Experiences Booked, GBV, and Average Daily Rate (ADR), which may differ from third-party estimates due to varying methodologies [81]. - Approximately 54% of the company's revenue in 2024 was generated in non-U.S. dollar currencies, exposing it to foreign exchange risk [122]. - The company experienced seasonality in its Nights and Experiences Booked and GBV, with revenue expected to be highest in the third quarter due to peak travel season [118]. Competition and Market Position - The company faces significant competition for both hosts and guests, impacting its ability to attract and retain users on its platform [55][57]. - The company faces significant competition from various platforms, including OTAs and search engines, which may affect its market position and growth [113]. Legal and Regulatory Risks - The company has faced civil litigation and regulatory inquiries related to safety and discrimination, which could adversely affect its reputation and business operations [77][78]. - The company is under examination by the IRS for tax years 2013, 2016, 2017, and 2018, with a proposed adjustment that could result in an additional tax liability of $1.3 billion [129]. - The company is exposed to evolving global tax regimes, which could materially affect its financial condition and results of operations [124]. - The company faces ongoing disputes with government agencies over regulations, which may result in fines and operational changes [143]. - Compliance with diverse and evolving laws across jurisdictions has significantly increased operational costs and potential liabilities [137]. Financial Management and Capital Structure - The company issued $2.0 billion aggregate principal amount of 0% convertible senior notes due 2026 and entered into a $1.0 billion unsecured revolving credit facility [95]. - The company may raise additional capital in the future, which could lead to dilution for existing stockholders and adversely affect the market price of its common stock [232]. - Increased volatility in financial markets has made access to capital less certain and raised the cost of obtaining new capital [233]. - The company assesses liquidity based on its ability to generate cash to meet short- and long-term cash requirements, including share repurchases and new product introductions [333]. Operational Challenges - The company continues to invest in new offerings and initiatives aimed at improving host and guest experiences, although these efforts come with increased expenses and risks [67]. - The company relies heavily on brand marketing to drive traffic to its platform, but rising costs and competition may hinder its marketing efficiency [71][72]. - The company relies on third-party payment service providers for processing payments, and any disruption could materially affect its operations [89]. - The company has experienced increased insurance costs as its business has grown, impacting its financial condition [86]. - The company’s community support relies significantly on third-party service providers, which necessitates stringent quality control to maintain service levels [68]. Taxation and Compliance - The company accrued approximately $95 million in corporate alternative minimum tax and approximately $20 million in excise tax on stock repurchases for the year ended December 31, 2024 [124]. - In December 2023, the company settled a tax audit with the Italian Revenue Agency for an aggregate payment of €576 million ($621 million) covering the 2017-2021 audit periods [125]. - The company recorded approximately $53 million in expenses related to digital service taxes due to refined interpretations of applicable laws [132]. - The company is subject to penalties for data privacy breaches, with fines potentially reaching €20 million or £17.5 million, or up to 4% of annual global revenue, whichever is greater [199]. Intellectual Property and Technology - The company has a substantial patent portfolio, which includes both issued patents and pending applications, essential for protecting its intellectual property [59]. - The company holds a broad collection of intellectual property rights, and failure to protect these rights could diminish brand value and competitive standing [202]. - The company incorporates third-party open-source software, which may expose it to legal risks and compliance challenges, potentially affecting its ability to protect its platform and services [220]. Cybersecurity and Data Privacy - Cybersecurity risks are evolving, with potential impacts on the confidentiality and integrity of the company's IT systems, which could lead to significant financial losses and reputational damage [222]. - The company processes personal data, including sensitive information such as Social Security numbers and financial data, which necessitates adherence to complex and evolving data protection regulations [186]. - The company has experienced IT system failures, which could lead to operational interruptions and negatively impact financial condition [201]. Shareholder and Stock Structure - The company's share price has been volatile, influenced by various factors including market conditions and operational performance, which could lead to significant fluctuations in stock value [227]. - The multi-series structure of the company's common stock may result in lower market prices and could make it less attractive to investors, potentially affecting the trading price of Class A common stock [228]. - The Class B common stock has 20 votes per share, while Class A common stock has one vote per share, allowing Class B holders to control significant voting power [236].

SAN FRANCISCO, Feb. 13, 2025 /PRNewswire/ -- Airbnb, Inc. (NASDAQ: ABNB) has posted a shareholder letter containing its fourth quarter and full year 2024 financial results on its Investor Relations website at https://investors.airbnb.com.Airbnb will host an audio webcast to discuss its results at 1:30 p.m. PT / 4:30 p.m. ET today. The link to the webcast will be made available on the Investor Relations website at https://investors.airbnb.com.Interested parties can register for the call in advance by visitin ...

[Q4 & FY 2024 Performance Overview](index=2&type=section&id=Q4%20%26%20FY%202024%20Performance%20Overview) [Financial Highlights](index=2&type=section&id=Financial%20Highlights) Airbnb reported strong financial results for Q4 and the full year 2024, driven by accelerated growth in nights booked, with Q4 revenue reaching $2.5 billion and full-year revenue surpassing $11.1 billion, underscoring robust profitability and cash generation Q4 2024 Key Financial Metrics | Metric | Value | YoY Growth (Reported) | YoY Growth (ex-FX) | | :--- | :--- | :--- | :--- | | Revenue | $2.5 billion | 12% | 12% | | Net Income | $461 million | N/A | N/A | | Net Income Margin | 19% | N/A | N/A | | Adjusted EBITDA | $765 million | 4% | 3% | | Adjusted EBITDA Margin | 31% | N/A | N/A | | Free Cash Flow | $458 million | N/A | N/A | Full Year 2024 Key Financial Metrics | Metric | Value | YoY Growth (Reported) | YoY Growth (ex-FX) | | :--- | :--- | :--- | :--- | | Revenue | $11.1 billion | 12% | 12% | | Net Income | $2.6 billion | N/A | N/A | | Net Income Margin | 24% | N/A | N/A | | Adjusted EBITDA | $4.0 billion | 11% | 11% | | Adjusted EBITDA Margin | 36% | N/A | N/A | | Free Cash Flow | $4.5 billion | N/A | N/A | - Q4 2024 net income of **$461 million** marked a significant improvement from a **$349 million net loss** in Q4 2023. The prior-year loss was primarily due to approximately **$1 billion** in non-recurring tax withholding expenses and lodging tax reserves[16](index=16&type=chunk) [Business Highlights](index=2&type=section&id=Business%20Highlights) Business momentum accelerated in Q4 2024, with Nights and Experiences Booked growing 12% year-over-year to 111.0 million, driving Gross Booking Value (GBV) to $17.6 billion in Q4 and nearly $82 billion for the full year Q4 & FY 2024 Key Business Metrics | Metric | Q4 2024 | Q4 YoY Growth | FY 2024 | FY YoY Growth | | :--- | :--- | :--- | :--- | :--- | | Nights & Experiences Booked | 111.0 million | 12% | 491.5 million | 10% | | Gross Booking Value (GBV) | $17.6 billion | 13% | $81.8 billion | 12% | - The company has been preparing for its next chapter by rebuilding its platform on a new technology stack and introducing over **535 features and upgrades**, improving the user experience and setting the stage for new offerings in the May 2025 Summer Release[12](index=12&type=chunk) - Since its 2020 IPO, Airbnb's revenue and GBV have **tripled**, and the company outpaced the travel industry's growth in 2024[14](index=14&type=chunk) [Business and Operational Review](index=4&type=section&id=Business%20and%20Operational%20Review) [Strategic Initiatives and Product Development](index=4&type=section&id=Strategic%20Initiatives%20and%20Product%20Development) Airbnb is focused on perfecting its core service through continuous product optimizations and a rebuilt technology platform, with initiatives like the Co-Host Network designed to unlock high-quality supply and enable faster innovation - The Co-Host Network, launched to help hosts manage their listings, has grown to support almost **100,000 listings** in **10 countries** within four months. These listings earn approximately **twice as much** as comparable listings[18](index=18&type=chunk) - Product optimizations, including enhanced search, better merchandising, and new local payment methods in nearly **two dozen countries**, have contributed to higher conversion rates, with full benefits expected in 2025[19](index=19&type=chunk) - A complete overhaul of the technology stack, including the app experience and messaging system, has improved usability and created an extensible platform ready for a range of new offerings[20](index=20&type=chunk) [Detailed Business Performance](index=9&type=section&id=Detailed%20Business%20Performance) In Q4 2024, Nights and Experiences Booked accelerated to 111 million, up 12% YoY, with growth across all regions, driving Gross Booking Value (GBV) to $17.6 billion supported by a modest 1% increase in Average Daily Rate (ADR) - Growth in nights booked was driven by the app strategy, with app bookings increasing **22% YoY** in Q4 and accounting for **60% of total nights booked**[48](index=48&type=chunk) - Expansion markets showed strong performance, with the average growth rate of gross nights booked being **more than twice the rate of core markets** in Q4 2024[50](index=50&type=chunk) Q4 2024 Regional Nights & Experiences Booked Growth (YoY) | Region | Growth Rate | Key Drivers | | :--- | :--- | :--- | | North America | Mid-single digits | Acceleration from Q3, broad strength in travel trends | | EMEA | Low-double digits | Acceleration across domestic, cross-border, urban, and non-urban travel | | Latin America | Low-20s | Highest growth in domestic travel (+30%), success of local payment methods | | Asia Pacific | Low-20s | Strong domestic and cross-border travel (+27%), China outbound recovery (+25%) | - Q4 2024 Average Daily Rate (ADR) was **$158**, a **1% YoY increase** (**2% ex-FX**), driven primarily by price appreciation across all regions[53](index=53&type=chunk) [Supply Growth Strategy](index=10&type=section&id=Supply%20Growth%20Strategy) Airbnb ended Q4 2024 with over 5 million hosts and 8 million active listings, with its supply growth strategy focused on targeted acquisition, increasing calendar availability from existing hosts, and improving overall listing quality - The company ended Q4 2024 with over **8 million active listings** from more than **5 million hosts**, with the most growth in high-demand regions like Latin America and Asia Pacific[54](index=54&type=chunk) - The supply growth strategy focuses on: 1) Targeted acquisition in constrained markets, 2) Helping existing hosts host more often (e.g., via Co-Host Network), and 3) Removing low-quality supply to improve the guest experience[55](index=55&type=chunk) - Since launching an updated hosting quality system in 2023, Airbnb has removed over **400,000 listings**, leading to lower customer service issues and improved guest net promoter scores[55](index=55&type=chunk) [Spotlight: Community and International Efforts](index=5&type=section&id=Spotlight%3A%20Community%20and%20International%20Efforts) The report highlights Airbnb.org's response to the Los Angeles wildfires, housing over 19,000 displaced people, and a localized marketing and product strategy in Japan to increase relevance and capture the domestic travel market - In response to the LA wildfires, Airbnb.org housed over **19,000 people** and **2,300 pets**, with support from **$27 million in donations**, including **$18 million** from Airbnb and its founders[22](index=22&type=chunk) - To prevent price gouging during the LA crisis, Airbnb deployed a feature to block hosts in the area from raising prices by more than **10%**[29](index=29&type=chunk) - To grow in Japan, Airbnb localized its product by highlighting amenities preferred by locals, surfacing reviews from Japanese travelers, and featuring homes suitable for popular domestic weekend travel[37](index=37&type=chunk)[39](index=39&type=chunk) [Financial Performance Analysis](index=12&type=section&id=Financial%20Performance%20Analysis) [Detailed Financial Results](index=12&type=section&id=Detailed%20Financial%20Results) Q4 2024 revenue grew 12% YoY to $2.5 billion, with net income of $461 million and Adjusted EBITDA of $765 million, while full-year 2024 stock-based compensation expense increased 26% - Q4 2024 revenue growth was supported by monetization efforts, including expanded guest travel insurance and an additional service fee for cross-currency bookings[56](index=56&type=chunk)[61](index=61&type=chunk) - The Q4 2024 Adjusted EBITDA Margin of **31%** was down from **33%** in Q4 2023, attributed to increased investments in sales and marketing and product development[59](index=59&type=chunk) - Full-year 2024 stock-based compensation (SBC) expense grew **26%** due to headcount and the full vesting of pre-IPO RSUs. In 2025, SBC growth is expected to approximate headcount growth[62](index=62&type=chunk) [Balance Sheet, Cash Flow, and Capital Allocation](index=17&type=section&id=Balance%20Sheet%2C%20Cash%20Flow%2C%20and%20Capital%20Allocation) Airbnb maintains a strong balance sheet, ending 2024 with $10.6 billion in cash and liquid assets, generating $458 million of Free Cash Flow in Q4, and repurchasing $838 million of its stock as part of its capital allocation strategy - As of December 31, 2024, the company held **$10.6 billion** in cash and liquid assets, alongside **$5.9 billion** in funds held on behalf of guests[83](index=83&type=chunk) - The company repurchased **$838 million** of its Class A common stock in Q4 2024, for a total of **$3.4 billion** in FY 2024. This helped reduce the fully diluted share count from **676 million** to **658 million** YoY[17](index=17&type=chunk)[84](index=84&type=chunk) - The capital allocation strategy prioritizes organic growth, then strategic acquisitions, and finally shareholder returns. The company has **$3.3 billion** remaining under its current share repurchase authorization[84](index=84&type=chunk)[85](index=85&type=chunk) [Outlook](index=17&type=section&id=Outlook) [Q1 2025 Outlook](index=17&type=section&id=Q1%202025%20Outlook) For Q1 2025, Airbnb anticipates revenue between $2.23 billion and $2.27 billion, representing 4% to 6% YoY growth, unfavorably impacted by the timing of Easter and the absence of a Leap Day, leading to an expected decline in Adjusted EBITDA margin Q1 2025 Guidance | Metric | Guidance | Notes | | :--- | :--- | :--- | | Revenue | $2.23 billion - $2.27 billion | 4-6% YoY growth (7-9% ex-FX) | | Nights & Experiences Booked | Stable YoY growth | After excluding ~1 ppt benefit from Leap Day in Q1 2024 | | ADR | Slight YoY decline | Largely driven by FX headwinds | | Adjusted EBITDA Margin | YoY decline | Primarily due to calendar factors and FX headwinds | - Q1 2025 revenue growth is negatively impacted by **~3 percentage points** due to the timing of Easter and the Leap Day in 2024. Excluding these factors and FX, revenue growth would be **10-12%**[88](index=88&type=chunk) [Full-Year 2025 Outlook](index=18&type=section&id=Full-Year%202025%20Outlook) For the full year 2025, Airbnb plans to invest $200 million to $250 million in launching and scaling new businesses, while still expecting to maintain strong profitability with an Adjusted EBITDA Margin of at least 34.5% - The company plans to invest **$200 million to $250 million** in launching and scaling new businesses to be introduced later in 2025[92](index=92&type=chunk) - Inclusive of these new investments, the company expects to deliver a full-year 2025 Adjusted EBITDA Margin of at least **34.5%**[92](index=92&type=chunk) [Appendix](index=19&type=section&id=Appendix) [Condensed Consolidated Financial Statements](index=24&type=section&id=Condensed%20Consolidated%20Financial%20Statements) This section provides the unaudited condensed consolidated financial statements for the three months and year ended December 31, 2024, compared to the prior year. It includes the Statements of Operations, Balance Sheets, and Statements of Cash Flows - The report includes detailed, unaudited financial statements: Condensed Consolidated Statements of Operations, Balance Sheets, and Statements of Cash Flows[112](index=112&type=chunk)[113](index=113&type=chunk)[115](index=115&type=chunk) [Reconciliation of Non-GAAP Measures](index=20&type=section&id=Reconciliation%20of%20Non-GAAP%20Measures) This section defines non-GAAP financial measures used in the report, such as Adjusted EBITDA and Free Cash Flow. It also includes detailed reconciliation tables that bridge these non-GAAP measures to their most directly comparable GAAP counterparts, such as net income and net cash provided by operating activities - The report provides detailed quarterly reconciliations of Net Income to Adjusted EBITDA from Q1 2022 through Q4 2024[120](index=120&type=chunk) - The report provides detailed quarterly reconciliations of Net Cash Provided by Operating Activities to Free Cash Flow from Q1 2022 through Q4 2024[123](index=123&type=chunk)

Core Viewpoint - Airbnb Inc is set to report its fourth-quarter earnings, with Wall Street expecting earnings per share (EPS) of 58 cents and revenues of $2.42 billion, while the stock has declined 7.21% over the past year and 6.44% year-to-date [1] Group 1: Stock Performance and Technical Indicators - The stock is showing strong bullish signals, trading above the eight-day, 20-day, and 50-day simple moving averages, indicating sustained buying pressure and a favorable trend for investors [2] - The Moving Average Convergence Divergence (MACD) indicator is at 1.26, confirming Airbnb's bullish momentum, while the Relative Strength Index (RSI) of 62.31 suggests the stock is nearing overbought territory but still has potential for further gains [3] Group 2: Analyst Ratings and Price Targets - The consensus analyst rating for Airbnb stock is Neutral, with a price target of $137, while recent ratings from Wells Fargo, Morgan Stanley, and BofA Securities suggest a 9.57% downside, with an average price target of $126.67 [4] - At the time of publication, Airbnb stock was trading at $141 [4]

Airbnb (ABNB) is scheduled to release fourth-quarter 2024 results on Feb. 13.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.ABNB expects fourth-quarter 2024 revenues between $2.39 billion and $2.44 billion, implying year-over-year growth of 2% on a reported basis.The Zacks Consensus Estimate for fourth-quarter revenues is pegged at $2.42 billion, indicating year-over-year growth of 9.19%.The consensus mark for earnings is pegged at 63 cents per share, up 6.8% over the past 30 days. T ...

Airbnb, Inc. (ABNB) closed at $134.98 in the latest trading session, marking a +1.82% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 0.95% for the day. Elsewhere, the Dow lost 0.99%, while the tech-heavy Nasdaq lost 1.36%.The company's stock has climbed by 1.35% in the past month, falling short of the Consumer Discretionary sector's gain of 3.31% and the S&P 500's gain of 1.86%.Investors will be eagerly watching for the performance of Airbnb, Inc. in its upcoming earning ...

Summary of Key Points Core Viewpoint - Airbnb (NASDAQ: ABNB) is expected to report Q4 2024 earnings on February 13, 2025, with analysts holding a relatively negative outlook due to a significant number of downward revisions in earnings per share (EPS) forecasts [1]. Analyst Revisions - In the last 90 days, there have been 2 upward revisions and 26 downward revisions in EPS estimates by analysts, indicating a bearish sentiment towards the company's upcoming performance [1]. Analyst Background - Michael Del Monte, a buy-side equity analyst with over 5 years of experience, emphasizes a macro-value-oriented approach to investment analysis, drawing from a diverse background in various industries including oil and gas, industrials, and consumer discretionary [1].